EUR/GBP – 30M – BUYThe combination Euro/British Pound (EUR/GBP) breaks through the bearish trendline up.
A bullish trend up to the next resistance level at 0.85380 is likely expected.
Caution: A possible trend reversal in the direction of the support level at 0.84817 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Northern Doji’ chart pattern is existing. The candles show ‘Northern Doji’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.85455 |
| 2nd High | 0.85445 |
| Next High | 0.85380 |
| Current Price | 0.85003 |
| Next Low | 0.84817 |
| 2nd Low | 0.84694 |
| 3rd Low | 0.84483 |
0.85380 – 0.85116 – 0.85445 – 0.84817 – 0.84865 – 0.84931
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Northern Doji